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April 3, 2007

Financial Institution Seeks to Promote New Branches

Challenge: How to promote branch openings and encourage brokers to invest. A financial institution was looking for an effective way to promote its new branches to potential brokers. Solution: An well chosen direct mail campaign targets thousands. Targeting 6,000 top-producing brokers and 5,000 potential broker agents, a series of three direct mail pieces were created and shipped during the final quarter of 2003. Combating the flood of flat mail pieces, these three items had irregular dimensions and were shrink-wrapped to an information card. Promotional binoculars encouraged recipients to “take a closer look.” A paper watch reminded them it was “time to invest” and promotional sticky notes suggested that potential brokers “take note” of this great new investment opportunity. The program was thrifty and uncomplicated.

Result: The promotion is a success, boosting the number of investors.
Prior to the mail campaign, 81 brokers sold the featured investment fund. Immediately after the mailings, that number grew to 497. Today, 1,270 brokers are selling the fund, and that figure is still growing. During the period most directly affected by the campaign, the fund had an astonishing 700 percent growth in assets under management, an increase that translates into more than $30 million.

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Posted by mark at April 3, 2007 2:59 PM

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